Option Care Health (NASDAQ:OPCH) Shares Gap Down – Here’s Why

Option Care Health, Inc. (NASDAQ:OPCH)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $36.09, but opened at $33.54. Option Care Health shares last traded at $33.7860, with a volume of 871,324 shares changing hands.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. National Bank Financial set a $37.00 price target on shares of Option Care Health in a report on Tuesday, January 27th. Bank of America increased their target price on shares of Option Care Health from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, December 9th. Wall Street Zen upgraded Option Care Health from a “hold” rating to a “buy” rating in a report on Saturday, January 10th. Barrington Research boosted their price target on shares of Option Care Health from $38.00 to $42.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Option Care Health in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Option Care Health has a consensus rating of “Moderate Buy” and an average target price of $37.58.

Option Care Health Trading Down 6.5%

The company has a debt-to-equity ratio of 0.85, a current ratio of 1.56 and a quick ratio of 1.05. The stock has a market capitalization of $5.36 billion, a PE ratio of 26.70, a P/E/G ratio of 2.13 and a beta of 0.84. The company’s 50 day moving average price is $33.97 and its two-hundred day moving average price is $30.47.

Hedge Funds Weigh In On Option Care Health

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of Option Care Health by 20.7% during the first quarter. Royal Bank of Canada now owns 231,161 shares of the company’s stock worth $8,078,000 after buying an additional 39,661 shares during the period. AQR Capital Management LLC grew its holdings in Option Care Health by 162.6% during the 1st quarter. AQR Capital Management LLC now owns 41,633 shares of the company’s stock worth $1,450,000 after acquiring an additional 25,777 shares in the last quarter. Empowered Funds LLC purchased a new stake in shares of Option Care Health in the 1st quarter valued at approximately $208,000. Allianz Asset Management GmbH raised its holdings in shares of Option Care Health by 378.3% in the 2nd quarter. Allianz Asset Management GmbH now owns 35,871 shares of the company’s stock valued at $1,165,000 after purchasing an additional 28,371 shares in the last quarter. Finally, Stephens Inc. AR purchased a new stake in shares of Option Care Health during the 2nd quarter worth $317,000. 98.05% of the stock is owned by institutional investors and hedge funds.

About Option Care Health

Option Care Health (NASDAQ: OPCH) is a leading provider of home and alternate site infusion services in the United States. The company specializes in the administration of injectable therapies, including antibiotics, nutrition, hydration, immunoglobulin, pain management and specialty pharmaceuticals. Through its nationwide network of infusion pharmacies and nursing professionals, Option Care Health delivers customized care plans and in-home nursing visits to patients managing complex or chronic conditions outside of a hospital setting.

Option Care Health traces its current structure to the completion of its merger with BioScrip in early 2021, combining two of the industry’s most experienced home infusion businesses.